118 S469 IS: Student Transparency for Understanding Decisions in Education Net Terms Act U.S. Senate 2023-02-16 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.

II118th CONGRESS1st SessionS. 469IN THE SENATE OF THE UNITED STATESFebruary 16, 2023Ms. Ernst (for herself, Mr. Grassley, Mr. Johnson, Ms. Hassan, Mr. Manchin, and Mr. Kaine) introduced the following bill; which was read twice and referred to the Committee on Health, Education, Labor, and PensionsA BILLTo require disclosure of the total amount of interest that would be paid over the life of a loan for certain Federal student loans.

1.

Short title

This Act may be cited as the Student Transparency for Understanding Decisions in Education Net Terms Act or the STUDENT Act.

2.

Interest disclosure

Section 433(a) of the Higher Education Act of 1965 (20 U.S.C. 1083(a)) is amended—(1)by redesignating paragraphs (18) and (19) as paragraphs (19) and (20), respectively; and(2)by inserting after paragraph (17) the following:(18)the total amount of interest that would be paid over the life of the loan based on a standard 10-year repayment plan;.